When setting up a compensation system, what issues does an organization need to address to determine its compensation philosophy?
What will be an ideal response?
Ability to pay; types of compensation; pay for performance or pay for longevity; skill-based or competency-based pay; at, above, or below market; wage compression; pay secrecy.
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When used for performance evaluation, periodic internal reports based on a responsibility accounting system should not
a. be related to the organization chart. b. include allocated fixed overhead. c. include variances between actual and budgeted controllable costs. d. distinguish between controllable and noncontrollable costs.
From which of the following theories of morality is Rawls's social justice theory fundamentally derived?
A) the theory of utilitarianism B) the theory of ethical fundamentalism C) the social contract theory D) the theory of moral relativism
The use of certainty equivalents means
A. the investment's cash inflows are certain. B. an investment's cash inflows are expressed as if they were certain. C. the cost of capital is known. D. the probability of occurrence is certain.
Confidence interval estimates of a population parameter ________
A) provide a range of values within which the true value of the parameter is believed to be B) specify a value that accurately predicts the population parameter C) eliminates the effect of sampling error D) are used solely to estimate the value of population variance